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Saturday, 15 July 2017

Godrej adds 2 housing projects in Bengaluru, Gurgaon

Godrej
Properties today announced expanding in Bengaluru and Gurgaon markets
by adding two housing projects comprising 1.6 million sq ft of saleable
area.

The real estate arm of the Godrej group said it has added a new group housing
project in Gurgaon.

"This project will offer approximately 98,000 square meters (approximately
1.05 million sq ft) of saleable area and will be developed as a modern group
housing development," the Mumbai-based developer said in a
statement.

This is company's 11th project within the National Capital Region (NCR) market
where it entered 5 years ago.

"This fits with our strategy of building our presence in the country's
leading real estate markets. We look forward to delivering an outstanding
project," said Pirojsha Godrej, Executive Chairman, Godrej
Properties.

In a separate statement, the company said it has signed a development
management agreement for a premium group housing project on Magadi road in
West Bangalore.

"This project will offer approximately 58,000 square meters (approximately
6,00,000 sq ft) of saleable area," it said, adding that this is company's
first project in the micro market of West Bangalore and 11th project
in Bangalore.

"Bangalore is a key market for us and this project addition fits well
with our strategy of expanding our presence across the country's largest real
estate markets," Goderj said.

The company did not disclose the name of companies or land owners with whom it
has tied up to develop these two projects.

It is currently developing residential, commercial and township projects spread
across 136.34 million sq ft in 12 cities.

(This story
has not been edited by Business Standard staff and is auto-generated from a
syndicated feed.)